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Add to CartGlobal Ophthalmic Viscoelastic Devices (Ovd) Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Type;
Cohesive OVDs and Dispersive OVDs.By Application;
Cataract Surgery, Glaucoma Surgery, Corneal Transplantation, and Vitreoretinal Surgery.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global Ophthalmic Viscoelastic Devices (Ovd) Market (USD Million), 2021 - 2031
In the year 2024, the Global Ophthalmic Viscoelastic Devices (Ovd) Market was valued at USD 2,881.88 million. The size of this market is expected to increase to USD 3,816.68 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 4.1%.
The global ophthalmic viscoelastic devices (OVD) market is experiencing significant growth driven by several factors. OVDs are essential tools used during ophthalmic surgeries, such as cataract surgery and intraocular lens implantation, to maintain space, protect delicate eye tissues, and facilitate surgical maneuvers. With the increasing prevalence of age-related eye diseases, including cataracts and glaucoma, there is a rising demand for ophthalmic surgeries worldwide. This growing demand for surgical interventions, coupled with advancements in surgical techniques and the expanding elderly population, is fueling the adoption of OVDs and driving market growth.
Furthermore, technological advancements in OVDs are enhancing their safety, efficacy, and versatility, further boosting market expansion. Manufacturers are developing next-generation OVDs with improved rheological properties, better tissue compatibility, and longer-lasting effects. Advanced formulations, such as cohesive and dispersive OVDs, offer surgeons greater control and precision during procedures, leading to improved surgical outcomes and patient satisfaction. Moreover, innovations in packaging and delivery systems are increasing the convenience and efficiency of OVD administration, streamlining surgical workflows and enhancing user experience for ophthalmic surgeons.
However, despite the growth opportunities, the OVD market faces challenges such as pricing pressures and regulatory hurdles. The high cost of OVDs, particularly premium formulations with advanced features, may limit their accessibility, particularly in emerging economies with budget constraints. Additionally, stringent regulatory requirements for medical devices pose barriers to market entry for new manufacturers and may impact product innovation and commercialization timelines. Nonetheless, with the increasing adoption of minimally invasive surgical techniques and the expanding application of OVDs in complex ophthalmic procedures, the global market for ophthalmic viscoelastic devices is poised for sustained growth in the coming years.
Global Ophthalmic Viscoelastic Devices (Ovd) Market Recent Developments
- In April 2024, Carl Zeiss Meditec AG announced the acquisition of the Dutch Ophthalmic Research Center (D.O.R.C.). This strategic move aims to consolidate the companies' strengths and drive innovation in ophthalmic medical devices and surgery.
- In June 2024, Alcon received FDA clearance for its UNITY Vitreoretinal Cataract System (VCS) and UNITY Cataract System (CS). These are the first products from Alcon's new Unity portfolio. This clearance marks a significant milestone for Alcon, as it expands its offerings in the eye care market. The UNITY systems are expected to provide innovative solutions for cataract surgery.
Segment Analysis
This report extensively covers different segments of Global Ophthalmic Viscoelastic Devices (Ovd) Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points and, insights that are generated from analysis of these data points (data trends and patterns).
The global ophthalmic viscoelastic devices (OVD) market is segmented based on type, application, and geography, reflecting the diverse uses and formulations of these essential tools in ophthalmic surgeries. In terms of type, OVDs are typically categorized as cohesive, dispersive, and viscoadaptive, each offering specific rheological properties suited for different surgical requirements. Cohesive OVDs maintain their shape and coherence, making them ideal for maintaining space and protecting delicate eye tissues during surgery. Dispersive OVDs, on the other hand, spread over surfaces and coat tissues, providing protection and lubrication. Viscoadaptive OVDs combine the properties of both cohesive and dispersive types, offering versatility and prolonged efficacy in various surgical scenarios.
Regarding application, OVDs are utilized in a wide range of ophthalmic procedures, including cataract surgery, intraocular lens implantation, glaucoma surgery, and corneal transplantation, among others. These devices play a crucial role in maintaining anterior chamber stability, protecting the corneal endothelium, and facilitating surgical maneuvers. Additionally, advancements in surgical techniques and the expanding repertoire of ophthalmic procedures are driving the demand for OVDs with enhanced properties and functionalities, further fueling market growth.
Geographically, the global OVD market spans regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, reflecting the diverse healthcare landscapes and patient demographics across different parts of the world. While developed regions like North America and Europe boast advanced healthcare infrastructure and high adoption rates of innovative surgical techniques, emerging economies in Asia-Pacific and Latin America are witnessing rapid growth driven by increasing healthcare expenditure, expanding access to medical services, and rising awareness about eye health. As such, understanding regional variations in demand, regulatory environments, and market dynamics is essential for stakeholders in the global OVD market to capitalize on emerging opportunities and address evolving needs in ophthalmic surgery.
Global Ophthalmic Viscoelastic Devices (Ovd) Segment Analysis
In this report, the global ophthalmic viscoelastic devices (ovd) market has been segmented by type, application, and geography.
Global Ophthalmic Viscoelastic Devices (Ovd) Market, Segmentation by Type
The Global Ophthalmic Viscoelastic Devices (Ovd) Market has been segmented by Type into Cohesive OVDs and Dispersive OVDs.
The global ophthalmic viscoelastic devices (OVD) market has been segmented by type into cohesive OVDs and dispersive OVDs, each offering distinct properties and applications in ophthalmic surgery. Cohesive OVDs are characterized by their ability to maintain a cohesive gel-like consistency, providing stable anterior chamber maintenance and endothelial cell protection during surgery. These OVDs adhere well to the intraocular tissues, enabling easy manipulation and control by the surgeon, making them particularly suitable for complex procedures such as phacoemulsification and intraocular lens implantation.
On the other hand, dispersive OVDs are formulated to spread thinly and coat the ocular tissues, offering excellent tissue protection and space maintenance. Unlike cohesive OVDs, dispersive OVDs have a lower viscosity and tend to remain in place without flowing, facilitating surgical maneuvers and reducing the risk of surgical complications such as corneal endothelial damage and postoperative inflammation. Dispersive OVDs are often used during delicate surgical procedures such as trabeculectomy, vitrectomy, and corneal transplant surgery, where precise tissue manipulation and protection are paramount.
The segmentation of the global OVD market into cohesive and dispersive OVDs reflects the diverse needs of ophthalmic surgeons and the increasing adoption of tailored approaches to ophthalmic surgery. While cohesive OVDs offer excellent stability and control, dispersive OVDs provide superior tissue protection and versatility, allowing surgeons to customize their approach based on the specific requirements of each procedure and patient. As surgical techniques continue to evolve and demand for minimally invasive procedures grows, both cohesive and dispersive OVDs are expected to play integral roles in enhancing surgical outcomes and patient safety in ophthalmic surgery worldwide.
Global Ophthalmic Viscoelastic Devices (Ovd) Market, Segmentation by Application
The Global Ophthalmic Viscoelastic Devices (Ovd) Market has been segmented by Application into Cataract Surgery, Glaucoma Surgery, Corneal Transplantation, and Vitreoretinal Surgery.
The global ophthalmic viscoelastic devices (OVD) market has been segmented by application into key categories, including cataract surgery, glaucoma surgery, corneal transplantation, and vitreoretinal surgery. Cataract surgery stands out as the dominant application segment due to the high prevalence of cataracts worldwide, particularly among aging populations. OVDs play a crucial role in cataract surgery by maintaining the anterior chamber, protecting delicate eye tissues, and facilitating intraocular lens implantation, contributing to improved surgical outcomes and patient satisfaction.
Glaucoma surgery represents another significant application segment for OVDs, addressing the need for effective management of intraocular pressure (IOP) in patients with glaucoma. OVDs are utilized in various glaucoma procedures, such as trabeculectomy and canaloplasty, to create space, protect tissues, and facilitate aqueous humor drainage, thereby reducing IOP and preventing disease progression. With the increasing prevalence of glaucoma globally and the growing demand for minimally invasive surgical techniques, the market for OVDs in glaucoma surgery is poised for continued growth.
OVDs find application in corneal transplantation and vitreoretinal surgery, where they contribute to maintaining tissue integrity, protecting the cornea or retina, and facilitating surgical maneuvers. In corneal transplantation procedures, OVDs are used to create and maintain space in the anterior chamber, enabling the safe and efficient transplantation of donor corneal tissue. Similarly, in vitreoretinal surgery, OVDs help create a stable environment within the eye, facilitating procedures such as retinal detachment repair and macular hole closure. As advancements in surgical techniques and OVD formulations continue to evolve, these application segments present opportunities for market expansion and innovation in the global ophthalmic viscoelastic devices market.
Global Ophthalmic Viscoelastic Devices (Ovd) Market, Segmentation by Geography
In this report, the Global Ophthalmic Viscoelastic Devices (Ovd) Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Ophthalmic Viscoelastic Devices (Ovd) Market Share (%), by Geographical Region, 2024
In the global ophthalmic viscoelastic devices (OVD) market, geographical regions play a significant role in shaping market dynamics and market share distribution. North America and Europe traditionally hold a prominent share of the market due to factors such as well-established healthcare infrastructure, high healthcare expenditure, and early adoption of advanced ophthalmic surgical techniques. These regions are also characterized by a large population of elderly individuals, who are more prone to age-related eye diseases, driving the demand for OVDs.
In Asia Pacific, the ophthalmic viscoelastic devices market is experiencing rapid growth attributed to factors such as improving healthcare infrastructure, increasing awareness about eye health, and rising disposable incomes. Countries like China, India, and Japan are witnessing a surge in demand for OVDs due to the growing prevalence of cataracts and glaucoma, coupled with an expanding geriatric population. Moreover, advancements in surgical techniques and the availability of cost-effective OVDs are further fueling market expansion in this region.
In emerging regions such as Latin America, the Middle East, and Africa, the ophthalmic viscoelastic devices market is also showing promising growth potential. Although these regions currently hold a smaller market share compared to North America, Europe, and Asia Pacific, increasing investments in healthcare infrastructure, rising healthcare expenditure, and growing awareness about eye diseases are driving market expansion. Additionally, partnerships between local governments, healthcare organizations, and international manufacturers are facilitating access to advanced ophthalmic surgical technologies and OVDs, further contributing to market growth in these regions.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Ophthalmic Viscoelastic Devices (Ovd) Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers:
- Increasing Prevalence of Age-Related Eye Diseases
- Advancements in Surgical Techniques
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Expanding Elderly Population- The expanding elderly population is a significant driver fueling growth in the global ophthalmic viscoelastic devices (OVD) market. As individuals age, they become more susceptible to age-related eye conditions such as cataracts, glaucoma, and macular degeneration. Cataracts, in particular, are highly prevalent among the elderly, leading to impaired vision and decreased quality of life. Consequently, there is a growing demand for ophthalmic surgeries, including cataract surgery, to restore vision and improve overall eye health in this demographic segment.
The increasing life expectancy globally is contributing to the rise in the elderly population, further driving the need for ophthalmic interventions. Advancements in healthcare and medical technologies have led to improved longevity, resulting in a larger proportion of the population reaching older ages. With aging comes a higher incidence of age-related eye diseases, necessitating more frequent ophthalmic consultations and surgical interventions. This demographic shift is expected to continue in the coming years, sustaining demand for OVDs and other ophthalmic products and services.
While the expanding elderly population presents growth opportunities for the OVD market, it also poses challenges such as increased healthcare expenditure and strain on healthcare systems. Meeting the growing demand for ophthalmic surgeries and treatments requires significant resources, including skilled healthcare professionals, medical facilities, and surgical equipment. Healthcare providers and policymakers must develop strategies to address the needs of an aging population, ensure accessibility to essential eye care services, and promote preventive measures to mitigate the burden of age-related eye diseases.
Restraints:
- High Cost of OVDs
- Regulatory Hurdles
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Pricing Pressures- Pricing pressures are a significant challenge impacting the global ophthalmic viscoelastic devices (OVD) market. The high cost associated with OVDs, particularly premium formulations with advanced features, poses a barrier to accessibility for both patients and healthcare providers. As healthcare systems worldwide face increasing budget constraints and cost containment pressures, there is growing scrutiny on healthcare expenditures, including expenditures on medical devices such as OVDs. This has led to intensified pricing negotiations between manufacturers and purchasers, resulting in downward pressure on prices and profit margins within the OVD market.
Pricing pressures in the OVD market are exacerbated by competition among manufacturers and the presence of generic alternatives. The availability of generic OVDs at lower prices presents a challenge to branded products, as healthcare providers may opt for more cost-effective alternatives to manage their procurement budgets. Additionally, the emergence of new market entrants and the proliferation of OVD manufacturing facilities in regions with lower production costs contribute to competitive pricing dynamics, further intensifying pricing pressures within the market.
Despite these challenges, opportunities exist for manufacturers to differentiate their products through innovation, quality, and value-added services. By investing in research and development to develop next-generation OVDs with improved features and performance, manufacturers can justify higher pricing and maintain a competitive edge in the market. Additionally, strategic partnerships with healthcare providers and payers, along with targeted marketing efforts highlighting the clinical benefits and cost-effectiveness of premium OVD formulations, can help mitigate pricing pressures and sustain profitability in the global OVD market.
Opportunities:
- Technological Advancements in OVDs
- Growing Adoption of Minimally Invasive Surgical Techniques
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Expanding Application- The global ophthalmic viscoelastic devices (OVD) market is witnessing an expansion in its application scope, driven by advancements in surgical techniques and the increasing adoption of minimally invasive procedures. Traditionally used in cataract surgery, OVDs are now finding wider application in various ophthalmic procedures, including glaucoma surgery, corneal transplantation, and refractive surgery. Surgeons are leveraging the unique properties of OVDs to maintain space, protect delicate eye tissues, and enhance visualization during a broader range of ophthalmic interventions, thereby fueling market growth.
Technological advancements in OVD formulations and delivery systems are contributing to the expanding application of these devices. Manufacturers are developing next-generation OVDs with tailored rheological properties to meet the specific needs of different surgical procedures. Cohesive and dispersive OVDs, with their distinct viscosity and elasticity profiles, offer surgeons greater control and precision, enabling them to achieve optimal surgical outcomes in various clinical scenarios. Additionally, innovations in OVD packaging and delivery systems are improving the efficiency and convenience of OVD administration, further facilitating their use in complex ophthalmic surgeries.
As OVDs are increasingly utilized in diverse ophthalmic procedures, challenges such as regulatory requirements and pricing pressures may impact market growth. Stringent regulatory scrutiny is necessary to ensure the safety and efficacy of OVDs across their expanded applications. Additionally, the cost-effectiveness of OVDs in various surgical contexts may influence purchasing decisions and reimbursement policies, particularly in healthcare systems with budget constraints. Nonetheless, with ongoing research and development efforts aimed at expanding the application scope and improving the performance of OVDs, the global market for ophthalmic viscoelastic devices is poised for continued expansion.
Competitive Landscape Analysis
Key players in Global Ophthalmic Viscoelastic Devices (Ovd) Market include:
- Alcon (Novartis AG)
- Bausch + Lomb (Valeant Pharmaceuticals International)
- Carl Zeiss Meditec AG
- Johnson & Johnson Vision
- Rayner Intraocular Lenses Limited
- Ocular Systems, Inc.
- CIMA Technology Inc.
- Bohus BioTech AB
- Precision Lens
- Hyaltech Ltd.
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Application
- Market Snapshot, By Region
- Global Ophthalmic Viscoelastic Devices (Ovd) Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Increasing Prevalence of Age-Related Eye Diseases
- Advancements in Surgical Techniques
- Expanding Elderly Population
- Restraints
- High Cost of OVDs
- Regulatory Hurdles
- Pricing Pressures
- Opportunities
- Technological Advancements in OVDs
- Growing Adoption of Minimally Invasive Surgical Techniques
- Expanding Application
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Ophthalmic Viscoelastic Devices (Ovd) Market, By Type, 2021 - 2031 (USD Million)
- Cohesive OVDs
- Dispersive OVDs
- Global Ophthalmic Viscoelastic Devices (Ovd) Market, By Application, 2021 - 2031 (USD Million)
- Cataract Surgery
- Glaucoma Surgery
- Corneal Transplantation
- Vitreoretinal Surgery
- Global Ophthalmic Viscoelastic Devices (Ovd) Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Ophthalmic Viscoelastic Devices (Ovd) Market, By Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Alcon (Novartis AG)
- Bausch + Lomb (Valeant Pharmaceuticals International)
- Carl Zeiss Meditec AG
- Johnson & Johnson Vision
- Rayner Intraocular Lenses Limited
- Ocular Systems, Inc.
- CIMA Technology Inc.
- Bohus BioTech AB
- Precision Lens
- Hyaltech Ltd.
- Company Profiles
- Analyst Views
- Future Outlook of the Market